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GBP/USD – Breach of 1.29 likely

FX:GBPUSD   British Pound/U.S. Dollar
Pair’s retreat from the descending trend line hurdle followed by a bearish break below rising trend line suggests the pair could breach key support area around 1.2940, in which case the spot could be offered to 1.2865 (Aug 15 low).

On the higher side, only a daily close above 1.3032 (Descending trend line) hurdle would suggests bearish invalidation.
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